Novavax sells Czech manufacturing unit to Novo Nordisk for $200 million to focus on vaccines

From Investing.com: 2024-12-04 05:16:31

Novavax will sell its Czech manufacturing facility to Novo Nordisk for $200 million to focus on its vaccine pipeline. The company has struggled to keep up with competitors like Moderna and Pfizer. Novavax’s shares have risen 88% since licensing its COVID-19 vaccine to Sanofi in May. The sale of the unit is expected to cut annual operating costs by $80 million. Approximately 300 employees at the facility will transfer to Novo Nordisk as part of the deal. Novo is investing billions to increase manufacturing capacity for Wegovy and Ozempic.



Read more at Investing.com: Novavax to sell Czech manufacturing unit to Novo Nordisk for $200 million By Reuters